Laois locals are left reeling following the latest rise in property prices in the county.

The price of an average pre-owned three-bed semi-detached house in Laois has reached €300,000 for the first time, according to a national survey by Real Estate Alliance.

Shockingly, the price for an average home has risen €15,000 in three months alone- a 5% increase according to the REA Average House Price Index.

“A good supply of new homes are still coming to the market and selling at a steady pace,” said Mr Seamus Browne of REA Seamus Browne, Portlaoise, who has reported an 11pc annual growth for average Laois house prices.

Pictured: New figures show varying rises nationally. Photo: REA

The REA Average House Price Index concentrates on the sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

The announcement of a nationwide rent pressure zone has triggered a sharp increase in landlords exiting the housing market, the survey showed.

The Government’s announcement in June was followed by an immediate spike in landlord sales in many areas now included in the legislation.

REA agents in Carlow, Kerry and Waterford have reported that over 40pc of their sales are attributable to landlords in the past three months – with that figure rising to 60pc in Limerick city and 80pc in Nenagh.

The REA survey also found that properties with a BER rating of A commanded an average 17pc premium over C-rated stock – reflecting the rising attractiveness of retrofitted homes.

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The actual selling price of a three-bed, semi-detached house across the country rose by 1.6pc in the past three months to €353,458, a 9.1pc overall rise annually.

The rate of increase in Dublin has more than halved in the past three months, with REA agents reporting a marked drop in viewings in the capital and homes now taking five weeks or more to reach sale agreed.

Selling prices in Ireland’s major cities outside Dublin rose by 2.2pc to an average of €368,492 – an 8pc annual increase.

Homes in the country’s large towns continue to show growth nationwide, 2.2pc this quarter and 10.7pc on last September to an average of €269,199.

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